Asset Protection Basics

QUESTION: WHAT IS ASSET PROTECTION PLANNING?

ANSWER: Asset protection planning is the adoption of advance planning techniques which place one’s assets beyond the reach of future potential creditors. In our practice, it does not involve hiding assets, nor is it based upon secret agreements or fraudulent transfers. It is based upon proven sophisticated combinations of business and estate planning techniques.

QUESTION: WHAT IS AN OFFSHORE TRUST?

ANSWER: By definition, an “offshore trust” is simply any trust formed under the laws of a jurisdiction outside of the United States. The property settled upon the offshore trust is held “in trust” by an offshore trustee. The offshore trust is the core of effective asset protection planning.

QUESTION: WHO SHOULD CONSIDER ASSET PROTECTION?

ANSWER: There is no formula for determining whether an individual or business should engage in asset protection. As a preventative measure, asset protection should be considered by all high-net worth individuals. Certain factors increase the need for asset protection planning, such as connections with high-risk professions (doctors, lawyers, real estate developers, etc.), owning investment real estate, operating a business, having children, or guaranteeing loans. If there is any chance that you or your business may be sued in the future, consider asset protection planning.

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News & Updates:

This article in our “Common Client Questions” series focuses on a re-emerging trend in the asset protection industry: clients retaining control over asset protection structures. Offshore asset protection planning is effective because of two elements. The first, that the offshore asset protection trust and its assets are beyond the reach of a U.S. court’s jurisdiction. […]

June 9, 2017. Rarotonga, Cook Islands The Cook Islands Offshore Planning Association (CIOPA) announced today that attorneys Howard Rosen and Patricia Donlevy-Rosen have been awarded Founding Member status in recognition of their level of expertise, qualifications, and experience in offshore planning exhibited during their distinguished careers. “We reserve the title of Founding Member to those […]

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By Tarita Hutchinson, Managing Director, Southpac Trust COOK ISLANDS UPDATES THE FTRA The Cook Islands will debate the Financial Transactions Reporting Bill at its next session of Parliament. The bill is designed to replace the 2004 Financial Reporting Transactions Act as part of the jurisdictions on-going commitment to providing high quality financial services to global […]

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Patricia Donlevy-Rosen, Esq. is a shareholder (partner) of the law firm of Donlevy-Rosen & Rosen, P.A. Her notable publications include the RIA Tax Advisors Planning Series titled "Asset Protection Planning". Due to Patricia's extensive experience with offshore asset protection planning and the protection of immovable assets, she is regarded as an authority on the subjects among her peers. ... Read More

Howard Rosen, Esq. is a shareholder (partner) of the law firm of Donlevy-Rosen & Rosen, P.A. His notable publications include the BNA Tax Management Portfolio titled "Asset Protection Planning" (1994, 2002), of which he is a founding author. Due to Howard's extensive experience with offshore asset protection planning and the related tax issues, he is regarded as an ... Read More

With the rising popularity of asset protection trusts as a vehicle for protecting wealth, lawyer and author Howard Rosen is a busy man educating fellow attorneys on offshore asset protection planning and his practice. His most recent seminar was hosted by the Estate Planning Council of Greater Miami, held at the University of Miami on […]

Attorney, author, and guest speaker Howard Rosen will present a Webinar Study Group sponsored by the American Academy of Attorney-Certified Public Accountants. The January 28 study group is open to all professionals for registration, and free to AAA-CPA members. Howard’s program, titled “Special Drafting Considerations For Asset Protection Trusts”, is also available for CLE and/or […]

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This article in our “Common Client Questions” series focuses on a re-emerging trend in the asset protection industry: clients retaining control over asset protection structures. Offshore asset protection planning is effective because of two elements. The first, that the offshore asset protection trust and its assets are beyond the reach of a U.S. court’s jurisdiction. […]

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What practical things can Americans do to protect their assets during a transition year? Is it possible to insulate assets from U.S. policies? Can you separate wealth from the performance of the U.S. Dollar? Can and should you “move to Canada”?

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With the heated debate on gun control dominating headlines and social media in recent years, a lesser-discussed aspect of gun ownership is not getting sufficient attention. The number of cases highlighting the civil liability pertaining to gun ownership are increasing, and gun owners in states with a strong anti-gun mentality are finding themselves up against […]

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